FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

ssi_gbp-usd_body_Picture_8.png, FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

GBPUSD – Retail FX traders have continued to scale back their British Pound short positions against the US Dollar (ticker: USDOLLAR), and the noteworthy shift in sentiment warns that the pair may have seen an important failure at $1.63. Since last week, total short interest has fallen 11 percent while longs are up 20 percent.

We see further risk of GBPUSD declines as crowds buy into weakness.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2575-0.0006-0.05%
    USDSGD=X
    1.7402+0.00010.00%
    EURSGD=X
    2.1124-0.0014-0.07%
    GBPSGD=X
    81.3054+0.0133+0.02%
    SGDJPY=X
    6.1660+0.0034+0.05%
    SGDHKD=X
    2.6044+0.006+0.23%
    SGDMYR=X
    9,242.1475-13.8789-0.15%
    SGDIDR=X
    4.9752+0.0083+0.17%
    SGDCNY=X
    1.1660+0.0007+0.06%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,293.90+3.30+0.26%
    GCM14.CMX
    19.61-0.08-0.40%
    SIK14.CMX
    91.62-1.25-1.35%
    ^XAU
    3.11-0.01-0.27%
    HGK14.CMX
    101.53-0.41-0.40%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.74+0.03
    ^FVX
    2.690.00
    ^TNX
    3.460.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    2.23+0.020+0.90%
    JS8.SI
    1.16+0.010+0.87%
    U6C.SI
    0.121-0.002-1.63%
    B22.SI
    1.335-0.020-1.48%
    G13.SI
    1.22+0.005+0.41%
    S53.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.167+0.015+9.87%
    5HH.SI
    0.21+0.020+10.53%
    F86.SI
    0.116+0.010+9.43%
    O2I.SI
    0.72+0.050+7.46%
    5DP.SI
    1.315+0.084+6.82%
    O9A.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.141-0.013-8.44%
    5GD.SI
    0.151-0.009-5.63%
    A03.SI
    0.30-0.015-4.76%
    K29.SI
    1.055-0.045-4.09%
    T14.SI
    0.22-0.005-2.22%
    5UZ.SI